Jefferies LLC

Burning Rock Biotech, a cancer detection and therapy company, has opened books for its up to $209.3m Nasdaq IPO following a hot week for Chinese listings in the US.

Chinese e-commerce company JD.com covered its Hong Kong secondary listing within a few hours of opening bookbuilding late last Friday evening, with orders continuing to pour in on Monday.

China’s Dada Nexus, an operator of on-demand retail and delivery platforms, has launched bookbuilding for its up to $280.5m US listing, according to a source familiar with the matter.

Biopharmaceutical company Legend Biotech Corp has kicked off bookbuilding for its Nasdaq IPO of up to $368.5m, according to a source familiar with the matter.

SM Trust has offloaded €521m of stock in Just Eat Takeaway.com, the online food delivery company, following a rally during the Covid-19 pandemic as more customers order meals to their houses.

Dada Nexus, an operator of Chinese on-demand retail and delivery platforms, and Legend Biotech Corp both set the ball rolling for Nasdaq IPOs this week.

Genscript Biotech Corp is planning to spin-off and list subsidiary Legend Biotech Corp in a potential $100m Nasdaq IPO. The firm submitted listing documents to the US regulator on Wednesday.

Dada Nexus, an operator of Chinese on-demand retail and delivery platforms, has set the ball rolling for a Nasdaq IPO.

Analysts have praised UniCredit for taking a conservative approach to dealing with the coronavirus pandemic, after the Italian bank said on Wednesday that it would be making higher loan losses provisions in the first quarter than had been expected by the market.

Jefferies said on Sunday that its chief financial officer, Peregrine ‘Peg’ Broadbent, had died of coronavirus complications. Broadbent had been CFO of the group since 2007, and helped it more than double in size.

Premier Oil’s stock surged by more than 65% on Friday after the company gave an update on its cash position following this week’s equity market slump, a positive for the banks working on its rights issue. However, the deal also hinges on a court case in Scotland.

The only high yield bond deal being actively marketed in euros this week has been postponed. The deal was for Fugro, the Dutch company that provides geographical data and asset integrity services to onshore and offshore industries. It was a debut issue for a listed company with no sponsor involved, so there had been good interest, but market conditions just proved too difficult.